Week 9

Empathy map for first year students:


 Journey map with a financial education tool and without:



 I discovered from the design sprint that the peer pressure competitive environment is a good motivator and allows students to see which areas they struggle with and identify themselves with how much they know or don't know and in relation to peers. However, a group setting makes it very generalised and financial literacy is probably best taught in an intimate setting, so information is not forgotten as quickly. Also so students can practically try out suggested skills and strategies on how to improve personal finance management. I need to take the fun, exciting, engaging competitive nature of kahoot and channel it in a more interactive practical scenario-based resources.

I decided to do a wireframe of an app with some elements I think would be useful to show in class this week.



I have also started writing my abstract:

> What is your central proposition? (or research  question)

Communication design can be used to create educational tools and resources that facilitate the education of financial literacy in first year New Zealand uni students to improve personal money management.

>how did you find things out? what is your process/method?

• Researching journal articles that test financial literacy in both high school students and tertiary students.
• Casual conversations with peers about their financial situation and knowledge
• Talking to creators of existing financial literacy tools
• Looking at theories that encourage behavioural change not just impart knowledge

>What are your insights into the problem (- what did you discover from your process and the design sprint?)

I have been looking into the NZCER reports and PISA assessments of financial literacy in NZ schools. It has become clear that a major problem with financial education is that the school curriculum is incredibly full especially at higher levels, the time for teaching it is scarce. Lack of resources, relevance and teacher knowledge of the subject is also limited. It is also clear that parents are big role models for financial knowledge however they themselves don’t have much knowledge only personal experience.

It has become apparent that integrating financial education into the school curriculum would be a long and hard process that potentially may never come into action with barriers such as students choosing different subjects which then leads the responsibility to fall onto parents. To keep the emotional home life separate from the learning environment my solution is to integrate it into tertiary study. it would be a good idea to design a tool that could be an ongoing resource included in uni halls or integrated into the tertiary learning environment in some way.

By addressing the lack of financial literacy right in the middle of the transition to independence, young adults can learn as they come across problems and learn as the topics become relevant. This is likely to have the most impact as it is like a fairy godmother swooping to save their stress and provide the right advice at the right time in context.

The tools would need to teach financial concepts and skills as well as provide real-world relatable scenarios that give students strategies on better money management. Using transformative learning theory to change attitudes towards money and create behavioural changes in students will have a lasting impact on young adults and they will carry this knowledge into their later adult life.

precedents:

I like the use of peer comparison to motivate students to be wiser with money


This app projects the future of your finances with the rate your going



Sorted in schools worksheets

Victoria uni financial guide


Today's speed dating was really helpful. Karl raised some questions about my audience as it was first year uni students but thinking about it now who needs financial education the most is not a demographic but a psychographic so I need to focus more on personalities, attitudes, values of young people leaving home for the first time. Some students are good with money or have parent help still but what about tradies or those who get a job and leave home with no financial education and just spend all their money on beer and have bad money habits. Those are the people I need to target because I want to create a behavioral change. It's about a need rather than an age



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